Dr. Scott Gottlieb is wary of the safety and effectiveness of a new coronavirus vaccine touted by Russian President Vladimir Putin as the world’s first drug approved to prevent Covid-19. “I wouldn’t take it, certainly not outside a clinical trial right now” where patients are closely monitored, Gottlieb said on “Squawk Box” on Tuesday. “They’re claiming that it’s fully approved, but
Shoppers ascend and descend escalators at the King of Prussia Mall, owned by Simon Property Group, United State’s largest retail shopping space, in King of Prussia, Pennsylvania. Mark Makela | Reuters Check out the companies making headlines in midday trading. Simon Property Group — Shares of the mall owner rose more than 4% after the
Former Theranos founder and CEO Elizabeth Holmes (L) leaves the Robert F. Peckham U.S. Federal Court on June 28, 2019 in San Jose, California. Justin Sullivan | Getty Images Seven months and nine days from now Elizabeth Holmes will face charges that she defrauded investors of her blood-testing company Theranos. That was the decision on
US President Donald Trump signs executive orders extending coronavirus economic relief, during a news conference in Bedminster, New Jersey, on August 8, 2020. JIM WATSON | AFP | Getty Images Self-employed people shouldn’t count on the payroll tax break President Donald Trump has issued via an executive order — at least not yet, tax experts
Alaina Lattin and her family Alaina Lattin was served an eviction notice last month at her home in Conroe, Texas. “It was a very loud banging,” Lattin, 32, said. “They just kept screaming, ‘Leasing office! Leasing office!'” Now, the single mother is worried that she and her four children will become homeless. Lattin is one
Key Findings The Low-Income Housing Tax Credit (LIHTC) offers developers nonrefundable and transferable tax credits to subsidize the construction and rehabilitation of housing developments that have strict income limits for eligible tenants and their cost of housing. The LIHTC has subsidized over 3 million housing units since it was established in 1986, the largest source
A Transportation Security Administration (TSA) worker screens luggage at LaGuardia Airport. Spencer Platt | Getty Images The coronavirus pandemic is keeping many would-be travelers away from the airport this summer, but the Transportation Security Administration on Monday said it found guns in passengers’ carry-on bags at roughly three times the rate of last year. The
Aerial view of Lujiazui Financial District at dusk, Pudong, Shanghai, China. Fei Yang | Moment | Getty Images U.S. sanctions on Hong Kong leader Carrie Lam raises uncertainty for international banks that were looking at a historic opening of the Chinese financial market. The U.S. Treasury announced Friday sanctions on the semi-autonomous region’s chief executive and
A passion for eating permeates Istanbul, a city that famously straddles Europe and Asia, one whose cuisine has long been known for its variety and quality. In addition to the traditional purveyors of impeccable grilled fish and meats, intoxicating street food and famously fragrant desserts, several restaurants are taking the concept of “Turkish cuisine” in
A worker wearing a protective mask adjusts a torque wrench inside the service area at a Harley-Davidson dealership in Oakland, California, on Thursday, July 16, 2020. David Paul Morris | Bloomberg | Getty Images The dark side of good earnings: Companies are talking about turning “furloughs” into permanent layoffs. You knew this was coming. It’s
A Social Security Administration office in San Francisco. Getty Images President Donald Trump’s executive order calling for a payroll tax holiday is prompting many to ask: What does that mean for the future of Social Security? Whether the president’s move ultimately will hurt the program depends on who you ask. Payroll taxes are taken from
The Chinese government’s efforts to tamp down speculation in property markets will mean that funds will flow to equities instead, allowing for more upside in onshore equities, an economist said on Tuesday. “We think the liquidity will likely go to the equity market,” said Zhiwei Zhang, president and chief economist at Pinpoint Asset Management. Although
The good news: The United States has a window of opportunity to beat back Covid-19 before things get much, much worse. The bad news: That window is rapidly closing. And the country seems unwilling or unable to seize the moment. Winter is coming. Winter means cold and flu season, which is all but sure to
Jamie Dimon, chief executive officer of JPMorgan Chase & Co. Giulia Marchi | Bloomberg | Getty Images The CEOs of banks, tech companies and consulting firms are forming a group to boost hiring from underrepresented groups in New York. Leaders from 27 firms that represent many of New York’s dominant industries banded together to create
Steven Heap/EyeEm/Getty Images President Donald Trump’s payroll tax deferral plan could result in higher tax bills for workers in 2021, tax experts said. As lawmakers remained at a stalemate over coronavirus relief efforts last week, Trump signed a package of four executive orders on Aug. 8. In one of them, the president called for the
Using a slow shutter speed an attendee is blurred as he walks by the Kodak booth during CES 2018 at the Las Vegas Convention Center on January 10, 2018 in Las Vegas, Nevada. David Becker | Getty Images Shares of Eastman Kodak plunged more than 40% during premarket trading on Monday after a federal agency
Justin Horrocks | Vetta | Getty Images You probably heard that President Trump signed an executive order to provide an extra $400 a week in unemployment benefits. Be aware that it’s not a done deal. And, based on the contents of a Department of Labor memo sent out Sunday and reviewed by CNBC, that amount
After plunging in April, consumer sentiment in housing began a promising recovery. Home sales surged and beat expectations; homebuilders reported buyer traffic was, well, through the roof, and online housing-related searches soared. Consumer confidence in housing now appears to be weakening, but consumer curiosity is not. Fannie Mae’s monthly Home Purchase Sentiment Index fell back
A sign reminding passengers to stay 6 feet apart is seen at a screening checkpoint at Orlando International Airport. Paul Hennessy | LightRocket | Getty Images Airline shares Monday headed for their biggest one-day percentage gains in nearly a month after federal data showed air travel at the highest volume in nearly five months and
A man wearing a mask walks past the U.S. Federal Reserve building in Washington D.C., the United States, on April 29, 2020. Xinhua News Agency | Getty Images The Federal Reserve in July bought up more bonds from blue chip companies including Microsoft and Coca-Cola, while it added to its positions in junk debt and